Mike: Yesterday proved to be a tumultuous day for layoff announcements and economic news. Microsoft disappointed with less than stellar earnings, but Google added some hope with positive earnings and they didn’t announce any large layoffs. Today should be a little quieter on the layoff announcement front, but with Harley-Davidson announcing the elimination of 1100 jobs, it will still be a disappointing day for many workers. Today’s economic calendar is light, but the earnings announcements will be active.
- Microsoft and IBM Rumors/News
General Economic News
US and some Canada Layoff News
* While overall growth was 2%, Microsoft took a big hit with its client software, and a big reason for that was netbooks. Here’s what the company said:
Client revenue declined 8% as a result of PC market weakness and a continued shift to lower priced netbooks.
That’s an astonishing admission. It means that people are forgoing higher-priced laptops, and instead buying netbooks — and many of those netbooks are powered by Linux. So Microsoft loses out not only on sales of Windows, but also sales of Microsoft Office as well. Estimates are that 30% of all netbooks ship with Linux.
This is all the more reason why Microsoft needs to ship Windows 7 quickly, and will most certainly do it before the announced 2010 ship date. Windows 7 has been designed to work with netbooks, and Microsoft hopes it will be a Linux-killer.
* Most of Thursday’s Microsoft layoffs centered in Redmond
Most of the 1,400 jobs being eliminated Thursday by Microsoft are at the company’s Redmond campus.
Employees whose jobs are being eliminated are being notified by their managers.
Microsoft says that some open positions at the company will be filled by employees whose jobs are being eliminated.
Those who do not get jobs will receive “generous severance and outplacement services to help their search for a new job,” according to the company. The company is not detailing severance packages, although employees are eligible for a minimum of 60 days of pay, as well as severance pay that is calculated on tenure and level.
* You may have heard just last week that Microsoft’s Gamerscore Blog would cease operation. You may have also heard about the 1,400 job cuts at Microsoft today (with more to come). What didn’t seem like it was related is now clear. Some of the team on the Microsoft Gamerscore Blog were let go today.
* SAN FRANCISCO (AP) — Google Inc.’s fourth quarter wasn’t picture perfect, but the results looked good in an ugly recession.
Although Google suffered its first-ever decline in quarterly profit because of a $1.1 billion accounting charge, the Internet search leader fared far better than its peers and proved it has the discipline to curb its free-spending ways in tough times.
Even as the Google tightened its belt, its fourth-quarter revenue climbed 18 percent to $5.7 billion. It’s the first time since Google went public in 2004 that its quarterly revenue growth has been less than 30 percent, but it was still a double-digit increase in a backpedaling economy.
“It was a pretty impressive performance in this kind of downturn,” said Stanford Group analyst Clayton Moran.
* Two days after reporting a 6 percent drop in fourth-quarter sales and a 12 percent increase in net income, IBM (NYSE:IBM) is laying off employees, although the company isn’t disclosing the scope of the cutbacks or where they are occurring. Postings on a Web site for IBM employees indicated that the IBM Software Group was being particularly hard hit.
The cutbacks came the same day that Microsoft (NSDQ:MSFT) announced plans to eliminate some 5,000 positions, including the immediate layoff of 1,400 workers.
An IBM spokesman confirmed the company is “re-allocating our skills and resources” and notifying some employees in the U.S. that their jobs are being eliminated. But the company made no announcement of the layoffs and the spokesman declined to say in what IBM organizations or facilities the cuts were being made. Some of the laid-off workers might find openings elsewhere within the company, he said.
* Alliance@IBM, the union-backed employee group, has confirmed more than 3,000 cuts at Big Blue.
While IBM said it will not comment on where the cuts are happening or how many, employees have told the Times Herald-Record local cuts are expected to be the most severe on Tuesday and Wednesday.
* Today’s earnings news: Bloomberg – Earnings calendar
Mike: I’m thrilled that the main stream media is finally getting to the truth about unemployment numbers. Many others, myself included, have complained that the unemployment numbers released by the feds aren’t complete and paint a rosier picture. The following NY Times article gives a more complete description of the unemployment numbers.
* How bad was today’s jobs report? The unemployment rate rose to 6.7 percent, its highest level since 1993 — and that understated the weakness in the labor market.
– According to the Labor Department, the number of unemployed workers rose by 251,000 in November. But the number of people who were outside of the labor force — that is, neither working nor looking for work — rose by much more: 637,000. These people aren’t counted as unemployed in the government’s statistics, because they are not looking for work. Many of them, presumably, have stopped looking for work because they didn’t think they could find a good job.
If you take a broader measure — one that tries to account for them — you see a darker picture of the labor market. The share of all men ages 16 and over who are working is now at its lowest level since the government began keeping statistics in the 1940s. The share of women with jobs has fallen almost two percentage points from the peak it reached in 2000; at no other point in the past 50 years has the share of employed women has fallen so much from its peak.
* DETROIT -(Dow Jones)- Harley-Davidson Inc. (HOG) dealerships that serve as retailers, repair shops and de facto clubhouses to legions of loyal owners are falling victim to the company’s mounting financial pressures.
At least a half-dozen have closed in recent months, hit by sinking sales as cash-strapped Americans forgo luxury purchases.
Dealers worry the shutdowns will begin to chip away at one of Harley’s most prized assets: its loyal customer base.
* The unemployment rate in the San Jose-Sunnyvale-Santa Clara metropolitan statistical area was 7.8 percent in December 2008, above the year-ago estimate of 5.1 percent, according to a report released Friday by the state Employment Development Department.
This compares with an unadjusted unemployment rate of 9.1 percent for California and 7.1 percent for the nation during the same period. The unemployment rate was 12.1 percent in San Benito County, and 7.7 percent in Santa Clara County.
* Florida ranks as one of the lowest-paying states in the nation in what it pays unemployed workers.
Whether you lose a $30,000-a-year job or one that pays six figures, your maximum unemployment compensation breaks out to $6.88 an hour — less than what most fast-food restaurant workers make in South Florida.
The state’s $275 weekly maximum benefit hasn’t changed in 10 years and is making the economic downturn more painful for Florida residents as more join the unemployment rolls each month.
* WHITE MOUNTAIN LAKE, Ariz. — The fire station in White Mountain Lake is closed and the entire staff of the fire district has been laid off indefinitely following an announcement that the district has a deficit of about $400,000.
* COSHOCTON – There will be fewer people helping those looking for jobs, applying for public assistance, seeking or paying child support or needing help through Children’s Service next month.
Four people will be laid off, including two part-time, a full-time and a temporary employee.
* WESTBROOK (Jan 22, 2009): The city of Westbrook laid off nine employees Friday, with more budget cuts expected as the city attempts to make up for a $580,000 revenue shortfall.
* MONROE, N.C. — Forty Union County employees will lose their jobs on Friday in the first round of layoffs for Union County government employees. It might not be the last.
Along with the 40 jobs that are being cut, another 38 positions that haven’t already been filled will be eliminated. County leaders made the decision on where the cuts would come from in their Thursday meeting. It’s expected that the hardest hit area will be positions within the general government offices.
* WINSTED — Teachers and students were in tears last week after it was announced that teachers and paraprofessionals would have to be laid off this year to make up for repeated cuts to the proposed 2008-09 school budget.
Superintendent of Schools Blaise Salerno met with staff members last week to discuss a proposed list of cuts, including several teaching positions and paraprofessionals, along with extracurricular programs, instructional supplies, textbooks, maintenance projects, field trips and a one-day staff furlough.
* The state agency responsible for helping disabled Ohioans find jobs will cut a quarter of its rehabilitation staff through early retirements in the next 15 months to deal with deep budget cuts.
The Ohio Rehabilitation Services Commission expects to lose 153 rehabilitation counselors and staffers who run a program in which blind Ohioans stock vending machines and manage cafeterias.
* EDCOUCH — Sixteen more Edcouch-Elsa schools employees lost their jobs this week as the district continues to cut costs in the face of a $5.6 million financial shortfall.
* MILWAUKEE (AP) — Harley-Davidson Inc. said Friday it will cut 1,100 jobs over two years, close some facilities and consolidate others as it grapples with a slowdown in motorcycle sales.
The company also reported its fourth-quarter profit fell nearly 60 percent, and said it is slashing motorcycle shipments in 2009 to cope with reduced demand.
The iconic motorcycle maker said it will consolidate two engine and transmission plants in Milwaukee into its facility in Menomonee Falls, Wis. It will shrink its paint and frame operations in its York, Pa., plant and close its distribution facility in Franklin, Wis. Harley also said it will end its domestic transportation fleet operation.
* Universal Orlando laid off about 70 workers — less than 1 percent of its work force — in an effort to adapt to slowing business conditions.
* Denver-based Quantum Resources has suspended its Jay Oil Field production and laid off about half its employees as a result of the economic recession and dramatic fall in oil prices.
Quantum spokesman Logan Magruder said the company anticipates reactivating the field when economic conditions improve.
Quantum said 29 employees were affected by the layoffs. A year ago at peak production Quantum had 72 employees.
* On Jan. 8 company officials from Andersen Corporation announced that 450 workers were being laid off – that number just got larger.
Maureen McDonough, Andersen’s director of communications, said the company would be laying off an additional 150 production workers from the facility in Bayport, Minn.
* DURHAM (WTVD) — Auto parts maker AW North Carolina announced Thursday that it will idle about a quarter of its workforce at its Durham factory.
The move affects about 280 workers. AW is owned by a Japanese company and primarily supplies transmission parts and oil pumps to Toyota. It has a massive manufacturing facility in Treyburn.
* Nichols Aluminum has laid off 55 employees, about 16 percent of its work force, company representatives confirmed Wednesday.
* In another sign of the local effects of the economy being in a recession, the Starr Commonwealth and Montcalm School for Girls has laid off 10 employees locally and another unspecified number of employees corporate-wide.
* Already, BNSF is shrinking its ready capacity. Rose said 2,000 workers are laid off and another 500 soon will be, 700 locomotives are stored away and 35,000 railcars are off-line. The company’s salaried workforce will get no merit pay hikes this year, he said, but a union contract gives wage earnings a 4.5 percent raise.
* A.O. Smith is cutting 13 positions at its Ashland City plant
* KEWASKUM – Facing a dreary economy and slowed sales, cookware manufacturer Regal Ware Inc. recently underwent a series of temporary and permanent layoffs.
The Kewaskum-based company on Wednesday also announced the retirement this month of a longtime official and a pair of promotions.
The layoffs affected a total of 26 administrative and production employees, Senior Vice President and Human Resources Officer David Lenz said.
* HSR Business to Business eliminated 12 jobs Monday, citing the loss of two clients and a generally weak economy.
* Hewlett-Packard Co. is laying off nearly 100 workers at its manufacturing plant in Puerto Rico to reduce costs.
* Biopharmaceutical company Lexicon Pharmaceuticals Inc (LXRX.O) said it will cut about 102 jobs, or about 22 percent of its workforce, to conserve capital and focus on the development of its most advanced drug development programs.
* American Greetings Corp. is closing 60 U.S. stores nationwide — including seven in Northeast Ohio — and cutting at least 200 more jobs as it continues to pare expenses during what has traditionally been its strongest quarter.
* NEW YORK (CNNMoney.com) — United Airlines, one of the leading U.S.-based carriers, said Wednesday it will cut an additional 1,000 jobs to reduce overhead costs.
The airline had previously announced it was cutting 1,500 positions in the second quarter of last year.
* LEESVILLE, La. — A modular building company based in Center, Texas, has laid off workers in Louisiana and Texas.
Ameri-Tech Building Systems chief executive officer Jim Donnan did not say how many people were laid off in Leesville, La., and in Center, Troy and Big Springs, Texas.
* PARACHUTE (KJCT) — Another local gas company says they are laying off employees, citing the economy and tighter regulations.
Three hundred contracted employees of Williams, located in Parachute, will be losing their jobs over the next few months.
* Hoboken University Medical Center is looking at laying off employees and cutting services in the near future to stay afloat, according to the hospital’s January newsletter.
The document leads off: “As Harvey Holzberg told everyone this week, Hoboken UMC may have to join the legions of hospitals across the nation, around the state, and up the block in making painful cuts to staff and services in order to remain fiscally stable during this global recession.”
* In an interview with Channelweb.com, Avnet COO and Senior Vice President Rick Hamada did not specify exactly where the $50 million in reductions would come from. When asked if they would include layoffs or the closing of Avnet businesses, Hamada — who is also the acting president of Avnet Technology Solutions/Global during the position’s changeover from John Paget to Philip Gallagher ” said, “All of the above.”
* MARION – Sypris Technologies will close its Marion plant by the end of 2009, said Mark Kane, vice president of human resources for the Louisville, Ky.-based company.
The plant, which employs 82 workers, will be closed in phases, joining the company’s Kenton facility, which is to close by May.
* Update: Bridgestone Corp. said Friday it will lay off about 800 workers at a tire plant in Tennessee as it phases out production of tires for cars and light tucks.
The plant, located in LaVergne, Tennessee near Nashville, will be restructured to focus solely on tire production for heavier vehicles, Bridgestone said in a statement published on its Website Friday.
* Sun Microsystems Inc.’s latest round of layoffs will put 227 of its Denver metro-area workers of jobs by early April, according a notification the company sent to state officials Thursday.
The Santa Clara, Calif.-based computer networking and software company said in November it planned to trim its work force by between 15 percent and 18 percent by late 2009, eliminating as many as 6,000 jobs worldwide.
* Hawker Beechcraft warned employees in a memo Wednesday that a second round of layoffs “could very well touch all areas and levels of the company.”
Hawker Beechcraft is “conducting an extensive review of our business in an effort to reconcile our first-quarter and full-year 2009 production needs with the size of our workforce,” vice president for human resources Rich Jiwanlal said in the memo.
It expects to finalize plans within the next few weeks, Jiwanlal said. At that time, it will provide more details of the reduction.
Mike: I have seen how these temporary layoffs can turn permanent quickly.
* Bobcat Co., says it is extending a six-week shutdown of its two North Dakota plants by two weeks, citing the nation’s economic slowdown.
The West Fargo-based construction equipment manufacturer laid off about 2,000 employees at its plants in Bismarck and Gwinner in mid-December. They were due back to work Feb. 2.
* The Pratt & Whitney aircraft engine plant in North Berwick is looking to cut its hourly work force by 50, part of a cost-cutting measure linked to reduced manufacturing.
The workers, who are over 55 years old, are being offered a buyout package that includes a $5,000 payment and a week’s pay for each year of employment, according to company and union officials.
* Trane plans to lay off about 100 workers in La Crosse on Feb. 2 due to the faltering economy, a company spokesman said Thursday.
* On Jan. 8 company officials from Andersen Corporation announced that 450 workers were being laid off – that number just got larger.
Maureen McDonough, Andersen’s director of communications, said the company would be laying off an additional 150 production workers from the facility in Bayport.
* Update: A majority of the staff making up Canadian video game development studio EA Black Box, creators of the Electronic Arts’ skateboarding series, Skate, Skate 2, and Skate It, has been laid off.
Gamasutra reports that almost two-thirds of EA Black Box, which has also worked on NBA STREET Homecourt and most of the games in the Need for Speed series (everything from Need for Speed Hot Pursuit 2 to Need for Speed Undercover) has lost their jobs, the total number of employees let go being upwards of 200 people.
* Autobytel Inc., the Irvine Internet auto marketing firm, is laying off seven more workers this month, according to a state Employment Development Department filing.
The Internet auto marketing firm started slashing its staffing last year to stem the flow of red ink.
* Checks Unlimited will lay off up to 100 employees in Colorado Springs after consolidating check printing operations in Salt Lake City and Kansas City, Mo., as a result of consumers switching to electronic payment methods from personal checks.
* Cooley Godward Kronish became the latest law firm to issue layoffs Jan. 22, eliminating 52 attorney jobs and 62 staff companywide.
In a memo to its employees, the law firm cited economic uncertainty but said the layoffs do not reflect overall weakness of the firm.
* WNET-Thirteen, PBS’s flagship station in New York, is on the verge of enacting significant staff and budget reductions for the coming year. The layoffs will also affect sister station WLIW-21 and the station’s parent public media organization WNET.org.
Neal Shapiro, President and C.E.O. of WNET.org, told The Observer on Thursday evening that his organization, including the stations, will be cutting 8 percent of its budget for the upcoming fiscal year. The cuts will be achieved, according to Mr. Shapiro, through cost-cutting measures (such as reductions in back-office costs) and by reducing the current staff by roughly 14 percent.
* Tuesday, a wave of optimism accompanied the swearing in of Barack Obama as the 44th president. On Wednesday, that optimism was quickly tempered at Oxford University Press (OUP), after the nation’s largest university press laid off 60 people between its two offices in New York and Cary, NC. OUP president Tim Barton said the “cost-cutting exercise,” is “a result of the difficult economic environment impacting the publishing industry.”
The job cut is an uncharacteristic move for the historically stable press, which, throughout recessions, has rarely had go to layoffs. These are clearly unprecedented times, however, further evidenced today by Microsoft’s announcement that it will lay off 5000 workers over the next 18 months, the first job cut in the company’s history.
* EL PASO, Texas — In the next couple of weeks, hundreds of El Pasoans will find themselves without jobs because the weak economy is forcing some companies to close down.
Air System Components Inc. or ASC is another big company that’s reorganizing and moving some of its operations to Juarez.
* LAWRENCE, Kan. | The University of Kansas is cutting 11 jobs and not filling 110 others to satisfy a legislative mandate to cut 7 percent of its budget for the 2010 fiscal year.
* OTTAWA, Ontario–Publicly traded IP video manufacturer March Networks announced this week it has implemented a seven percent reduction in global workforce along with a six percent salary roll-back for all North American executives and staff. This follows another workforce reduction the company announced in November.
* Palo Alto – Stanford University’s Graduate School of Business has been struck by the recession as 49 staff members have been let go since the beginning of the year. Stanford University on the whole expects to cut its budget by 10% this year.
* Some nursing positions were eliminated, though hospital officials say staffing levels won’t be affected.
Citing the troubled economy, Frankford Hospitals Thursday announced it has eliminated 100 full-time employees including a small number of “clinical” nursing positions.
* Polaris Industries Inc. has cut 160 salaried jobs and about 300 contract part-time and temporary positions. The cuts were spread across all product lines and multiple facilities. The cuts represent about 5 percent of the company’s employee base.
* Virginia-based MeadWestvaco Corp. announced today that it will shut its Consumer & Office Products’ envelope factory in Enfield by the end of March, leaving 190 workers jobless.
* Lexicon Pharmaceuticals announced a new restructuring plan Thursday, which includes a 22 percent reduction in its workforce. The 102 positions cut will be primarily in basic research, early-stage discovery and support positions, the company’s statement said.
* Interline Brands Inc. has eliminated 85 full-time positions.
As a result of the layoffs, as well as several other expense control actions, the company expects to save about $12 million a year.
* MORRISVILLE, N.C. — ChannelAdvisor, a global provider of e-commerce services to retailers and other online sellers, is laying off up to 60 of its 290 workers.
The 19 percent work force reduction is part of a company-wide reorganization scheduled mfor a Friday announcement.
* A Sweden-based firm that makes products for the pharmaceutical industry will move its Albemarle County production line to Cardiff, Wales, taking 50 local jobs with it.
Biotage announced Thursday that it would start transferring its production overseas in stages. The move is slated to be finished by the fourth quarter.
* Looking to cut overhead and focus on its lead drug program, Connecticut-based Penwest Pharmaceuticals is reducing its staff from 60 to 49. The company says the layoffs will build on the decreases in spending on general and administrative, as well as research and development, expenses over the past year.
* Semi-trailer maker Wabash National Corp (WNC.N) said it would further cut its workforce by 5 percent to reduce costs, and that it sees non-cash goodwill impairment charges of about $66 million in the fourth quarter.
The company said it would cut 25 jobs, bringing the total headcount reduction to over 25 percent since 2007, and reduce the base salary its executive officers and the senior management team by about 10 percent.
* Japanese carmaker Toyota Motor Corp. is considering shedding more than 1,000 regular workers in Britain and North America as it fights its biggest ever crisis, according to a report.
The company aims to finalise the job cuts at its seven plants in North America and one in Britain by the end of the month, the business daily Nikkei reported, citing an unnamed senior Toyota official.
* Schlumberger Ltd., the world’s largest oilfield-services provider, said fourth-quarter profit fell 17 percent as a collapse in petroleum prices slowed exploration spending by customers. The company said job cuts “concern” 5,000 people worldwide.
* Franklin Resources Inc. (BEN:52.14, +0.54, +1.1%) confirmed Thursday that it plans to cut 4% of its global workforce. The cuts, announced to staff on Wednesday, amount to about 350 of the firm’s 8,600 employees.
* NEW YORK, Jan 22 (Reuters) – Playboy Enterprises Inc plans to cut jobs, consolidate online and print operations and take a writedown as the adult entertainment magazine struggles with a declining audience in a poor economy.
The Chicago-based publisher said it will report a fourth-quarter loss as a result of the the writedown of goodwill and other intangible assets, which it expects to be more than $100 million.
It did not say how many jobs would be cut.
* Union Pacific Corp. has furloughed about 3,150 train and yard employees, and more cuts could be made in the first three months of this year if business doesn’t pick up, officials said Thursday.
A Union Pacific freight train travels in Omaha on Wednesday. On Thursday, Union Pacific reported a 35 percent increase in net income during its fourth quarter.
A few hundred more jobs could be cut from the railroad’s work force of 47,000, including some at the railroad’s Omaha headquarters, spokeswoman Donna Kush said.
“It all depends on volumes,” she said.
The latest cuts leave about 18,060 train and yard employees still working, officials said.
* HOLYOKE – An estimated 30 city employees will lose their jobs next fiscal year if the city receives less state aid as predicted, Mayor Michael J. Sullivan said this week.
* Two of the area’s major health systems, Rochester General and Unity, will cut jobs and may lay some workers off this year.
Officials at Rochester General today announced a $24 million budget cut plan that includes eliminating 30 management jobs and 210 other positions. Officials said 140 positions have already been cut through turnover and by eliminating temporary and agency staff. Of the 100 other jobs targeted, system officials hope to place some of those employees in other positions, but there could be layoffs.
* Sony plans to close two television factories and shed 2,000 jobs in its home country of Japan, according to a Bloomberg report Wednesday.
The report says CEO Sir Howard Stringer will make the announcement in a news conference but doesn’t say when.
* Parker Hannifin Corp. is cutting 130 jobs at its New Haven plant, New Haven Mayor Terry McDonald said Thursday.
That will bring the workforce at the plant to between 450 and 500, McDonald said.
* New Customer Service Cos. Inc. is laying off dozens of workers at its Loudoun County headquarters and, as a result, will close its call center there.
The Sterling-based company will cut 57 workers March 15, according to a notice filed by the company with the Virginia Employment Commission.
* 213 jobs at Wilsonville Movie Gallery Inc. announced it will lay off about 213 employees at one of its Wilsonville locations as part of its move to consolidate two distribution centers into one in Nashville, Tenn.
* United Drug has said it is seeking to cut job numbers at its Irish businesses by just under 100 as part of a cost saving programme.
The company provides services to pharmaceutical retailers and manufacturers and is one of the biggest drug wholesalers in the country.
* D/FW AIRPORT – United Parcel Service is eliminating 250 positions at its overnight sorting facility in North Texas, and another 250 jobs will be cut at a similar facility in Columbia, South Carolina.
In December, UPS announced it would eliminate 72 jobs at the UPS Air Cargo Distribution Center at the Dallas/Fort Worth International Airpor
* Abercrombie & Fitch Co has laid off about 50 employees at its headquarters, a spokesman said on Friday, as part of what the teen retailer called its ongoing focus on managing expenses in the recession.
* Based in Norwalk, Conn., Xerox (NYSE: XRX) employs 1,750 in Wilsonville, home to the Xerox Office Group. On Jan. 15 Xerox laid off 50 Wilsonville employees, part of a corporate-wide 5 percent reduction in workforce.
* Dubuque Stamping & Manufacturing has laid off 40 workers in the last few weeks, comprising about 25 percent of its work force.
via TH – Local News Article.Dubuque Stamping & Manufacturing has laid off 40 workers in the last few weeks, comprising about 25 percent of its work force.
* BLAKELY, Ga. — Channel 2 learned Thursday nearly all the people who work in the Georgia peanut plant linked to salmonella have lost their jobs.
The Peanut Corporation of America plant is in Blakely in southwest Georgia. All but three of the 46 employees at the Blakely Peanut Corporation of America plant were laid off, plant officials told WSB-TV Channel 2 Thursday.
* Based in Uppsala, Sweden, Biotage makes products in the medicinal chemistry area for the pharmaceutical industry, biotech companies and academic institutes.
About 50 jobs will be lost when the Charlottesville factory closes. Biotage said Thursday the transfer is expected to be finished by the fourth quarter.
* Keihin Indiana Precision Technology in Greenfield has laid off 100 temporary workers and made other cuts amid reduced demand from its primary customer, Honda Motors.
* Domain name registrar Name.com has laid off 10% of its staff, according to a post on its company blog.
After growing last year, the company started to cut back on costs in October. But the cuts were not enough. Name.com cites razor small margins on domain names and intense competition, along with the faltering economy, for its woes.
* Law firm Choate Hall & Stewart has laid off 15 lawyers and 23 non-legal staff members, or 8 percent of its workforce, citing the slumping economy, the firm confirmed Friday.
* Motorola Inc. has filed notices with the state of Illinois on the upcoming layoffs of nearly 550 local employees.
The state’s Department of Commerce and Economic Opportunity has received two notices from Schaumburg-based Motorola dated Thursday. The Illinois Worker Adjustment and Retraining Notification Act, or WARN, requires employers to give 60 days advance notice of mass layoffs.
* The Beat reports on layoffs at DC Comics and Diamond Comics, apparently due to the continuing economic crisis. The most high-profile among them is Bob Schreck, who co-founded Oni Press, edited “Sin City” at Dark Horse, and edited “The Dark Knight Strikes Again” and “All-Star Batman and Robin” for DC.
* NEW YORK – The company that operates two public television stations in New York City says it’s cutting 85 jobs because of the economic downturn.
via – Newsday.com 85 jobs cut at 2 NYC public TV stations
* NorthShore Skokie Hospital said it would eliminate 150 full-time jobs, or nearly 14 percent of its workforce in the next two months.
* Webster Financial Corp. said today it will cut 200 jobs and slash its quarterly cash dividend on common shares from 30 cents to 1 cent, as it steers through the recession and braces for even tougher times ahead.
* Jan. 23 (Bloomberg) — Fannie Mae, the mortgage-finance company under federal control, cut several hundred jobs today at its Washington headquarters as it adds workers elsewhere to combat rising foreclosures.
* Birds Eye Foods has cut more than 30 positions, nearly half of which are at the corporate headquarters in Rochester.
via – Birds Eye Foods
* RIVERDALE, Iowa (AP) — Alcoa Inc. is cutting jobs at its Davenport Works plant in the Quad Cities as part of a worldwide reduction.
The aluminum producer says in a news release issued Friday that it will reduce its hourly work force by about 220 positions. Alcoa says the number of salaried employees affected hasn’t been finalized.
* Birmingham’s ABC 33/40 television station laid off about 20 full-time and part-time employees today, including sports reporter Melissa Lee and meteorologist Brian Peters, a station official confirmed.
* Chicago’s Starcom MediaVest laid off 80 staffers yesterday, AgencySpy has learned. A Starcom representative confirmed the cuts today, stating that the current economic climate is to blame.
* Another big round of layoffs is expected at Starbucks, possibly as many as a third of its corporate employees as well as district managers and field employees, Diane Daggatt, a managing director at McAdams Wright Ragen in Seattle, wrote in an e-mail to the brokerage’s customers today.
* Comerica Inc. is set to cut another five percent of its work force in a move that will affect all business units in all geographic markets, including Texas.
* JAE Oregon Inc. in Tualatin, a subsidiary of Tokyo-based Japan Aviation Electronics Ltd. (JAE), laid off 26 of 157 employees this month and will cease production for a week each month in January, February and March, the company said Friday.
* NORFOLK – Children’s Hospital of The King’s Daughters laid off 28 employees on Friday, just one in a series of cost-cutting measures the facility is taking to shore up finances.
* BOULDER, Colo. — Niwot-based Crocs Inc. this week cut 14 positions companywide as part of a continued “reorganization” of the shoemaker’s business, officials said.
* JONESBORO, AR (KAIT) – Officials with Hytrol Conveyor Company have announced the lay-offs of 100 employees, triggering concerns about Jonesboro’s economic outlook. Couch’s Barbecue, one of the oldest restaurants in Jonesboro, has had to make job cuts as well
* An analyst says as many as 1,000 Starbucks Corp. employees could be laid off within weeks, according to published reports.
The layoffs could include one-third of corporate employees, district managers and field employees, according to an e-mail sent Friday by Diane Daggatt, managing director at Seattle-based brokerage McAdams Wright Ragen. No barista jobs were expected to be cut, she said.
* DETROIT — A person briefed on General Motors’ plans says one of the two remaining shifts at an assembly plant in Lordstown, Ohio, will be laid off starting in April.
The person asked not to be identified because the plans have not been finalized. The person says workers at the plant have been told about the cuts and an official announcement could come as soon as Monday.
* BBVA Compass announced Friday it will cut 1,200 positions in its six-state footprint.
The cuts, which amount to 10 percent of its work force, will include 200 in the Birmingham area, a spokesman said.
* McQuay International announced today it will temporarily lay off approximately 60 employees at its Auburn facility for 90 days. The layoff was voluntary, said McQuay spokesperson Chris Sackrison, and people will retain their health benefits during the three months.
“We’re not immune to the economy right now,” he said.
* WYOMING, Mich. (WOOD) – The first round of layoffs at the General Motors plant in Wyoming has been announced.
The facility on 36th Street will close at the end of this calendar year.
* Pinnacle Airlines Inc. is rolling back personnel and other expenses to keep its regional jets flying amid economic turbulence.
The Delta Connection and Northwest Airlink carrier is freezing executive pay, suspending 401(k) company matches and targeting 30 to 50 employees for layoffs.
* Now, for at least the third time in six months, more layoffs at Truseal Technologies in Barbourville.
The manufacturer of window and door sealants is laying off 25 workers. It’s a blow to each of the families of those employees, and the affect is far reaching.
* Hillel, which laid off six employees this week, has been hit hard by the downturn in the economy, reports the Washington Jewish Week. The organization lost $20,000 it had directly invested in Madoff, but also another $600,000 that is was supposed to receive next year from the Chais Foundation, which closed after losing all of its money with Madoff.
* Muzak Holdings LLC, the Fort Mill, S.C., provider of background music to businesses, confirmed today it has laid off “fewer than 30” of its 1,250 employees.
* To cut costs, two of the state’s biotechnology companies — Baltimore’s Alba Therapeutics and Novavax Inc. of Rockville — have shed more than 40 jobs this month.
* Motorola has notified the state that it will lay off 77 employees at its Plantation facility, effective March 27. The company said it will no longer conduct new Windows mobile development at the facility.
* A big Nevada insurance company said today it’s cutting its workforce by about 14 percent.
Employers Holdings Inc., parent of Employers Insurance Company of Nevada, said the layoffs are in response to the economic downturn and are part of a restructuring plan following the company’s acquisition of AmCOMP Inc.
* RIVERDALE, Iowa — Alcoa is losing a battle to reduce costs and avoid layoffs. The world economy is hitting close to home at the Davenport Works, taking with it 220 hourly jobs at the plant.
* NASHVILLE, Tenn.- There are more victims of the slumping auto industry. Almost 5,000 employees across the country, a few of them in the mid state are losing their jobs as a magazine that advertises cars for sale goes out of business.
* HUNTINGBURG, Ind. (AP) – A southern Indiana furniture company is closing an assembly plant where about 70 people work.
OFS Brands announced Friday that that 1 of its plants in the Dubois (doo-BOYSS’) County city of Huntingburg would end operations by the end of March.
* FISHER, Ill. — The owner of an eastern Illinois plant that makes products for the steel industry says the facility will close, costing 98 people their jobs.
* THOMASVILLE, N.C. (AP) – A North Carolina wood products plant that has been in business for 75 years is closing because of a decline in its customer base.
The High Point Enterprise reported Friday that Commercial Carving Co. will shut down next month.
The company didn’t say how many workers it employed, but the newspaper reported Commercial Carving employed about 90 people last year.
* MOUNT POCONO — Liz Claiborne will close its Mount Pocono distribution center sometime in March, leaving 350 employees without jobs.
The company made the announcement to its employees Thursday morning.
* ELLENBORO, W.Va. — Parkersburg-based Simonton Windows has laid off 115 workers at its Ritchie County facility and 42 others at a plant in Paris, citing the slumping housing market.
* ACA Co-operative Ltd. of Kentville is cutting more than 300 jobs at two of its Kings County poultry processing facilities, one of which is closing permanently.
* Avnet Inc., a distributor of electronic components, computer products and embedded technology, will close its Texas operations and move them to Nogales, Sonora.
The Fortune 500 company will transition its assembly operations from Grapevine, Texas, to the Mexican border town over the next 18 months, the company said in a news release.
* HOWELL, Mich. – The auto industry’s ongoing sales slump is being blamed for the closing of another small supplier in Livingston County.
International Paper Co. says it’s shuttering its corrugated container plant in Howell, resulting in the loss of 95 jobs.
* KUALA LUMPUR, Malaysia: Malaysia has banned the hiring of foreign workers in factories, stores and restaurants to protect its citizens from mass unemployment amid the global economic downturn, a government official said Thursday.
The government has also ordered companies to lay off foreign employees first if they must slash their work force, a Human Resources Ministry official said.
* Mishcon de Reya has completed its redundancy consultation with 17 members of staff, including two partners, losing their jobs.
* Superquinn is to cut 400 jobs and close a store in Dundalk as part of a cost-saving plan which, it says, has been forced upon it following “recent developments in cross-border shopping”.
* MANILA, Philippines – Intel Corp., the first US semiconductor firm that established a facility in the Philippines, will shutter its Cavite factory, laying off 1,800 workers and an undisclosed number of executives this year.
* ZURICH: UBS, the largest Swiss bank, said Thursday that it was planning a fourth round of job cuts at its securities division to downsize the fixed-income unit after record losses from the global financial crisis.
The bank, which is based in Zurich, will exit its real estate and securitization and exotic structured products businesses, Carsten Kengeter and Jeff Mayer, co-heads of fixed income, currencies and commodities, said in a memorandum dated Wednesday.
* Almost 700 jobs are set to be axed by a UK parcel carrier following a decision to restructure its delivery network, unions say.
* The drinks group Britvic Ireland is to shed 145 jobs over the next twelve months as part of a cost-cutting plan.
* The number of construction apprentices being made redundant during the economic downturn now stands at well over 1,000.
The total has nearly trebled over the past two months with only one in three finding a fresh site placement. And the industry’s training leaders are forecasting still more apprentice redundancies to come.
* Northcliffe’s Bristol News & Media division is understood to be planning up to 45 job cuts as speculation mounts that the Western Daily Press could in future rely on content supplied by other company titles in the region.
* ALMOST 1,000 jobs have been axed in the Rochdale area over the last nine months.
The shocking figures obtained by the Observer show for the first time the extent of the economic downturn on the local economy.
The statistics revealed that 980 workers were made redundant, with the majority of the jobs lost in the retail and manufacturing sectors.
* Dutch-owned food firm Vion will eliminate 470 jobs at its Haverhill site in Suffolk, 200 at Malton in North Yorkshire, and 150 at Cambuslang in Scotland.
The job cuts in Scotland are due to the loss of business supplying food products to supermarket chain Marks & Spencer. The job losses in Suffolk and North Yorkshire are due to the restructuring of Vion’s abattoir and cooked meats businesses.
* QUITO — State oil company Petroecuador will carry out a restructuring plan that includes eliminating 1,500 jobs, Ecuadorian President Rafael Correa said, adding that just $3 billion will be earmarked for the firm this year to fund ongoing projects.
* SJ Berwin today became the latest law firm to announce job cuts as the City’s leading legal advisers brace themselves for a recession. Up to 50 jobs could go.
* Tata Steel’s Corus Plc, Europe’s second-largest steel company is planning a major revamp at Ijmuiden steel plant in the Netherlands, which could lead to nearly 1,000 workers losing their jobs due to decline in sales in the global steel industry, caused by the current economic slowdown.
* Crisis worsens in civil engineering sector, while SMEs express doubts over latest bank bail out
The bloodbath in the civil engineering sector worsened this week as Buro Happold and Faber Maunsell followed Arup’s cull of 400 UK staff last week.
A source close to Faber Maunsell said 16% of UK employees – about 500 people – faced the chop. A spokesperson said this figure was “inaccurate” and that the figure was closer to 4%, but refused to give the actual figure. Senior salaries at the firm are also understood to have been frozen and bonuses reduced.
* Jan. 23 (Bloomberg) — Sotheby’s in Amsterdam will cut two-thirds of its 60 employees, according to a Dutch newspaper Het Financieele Dagblad, citing director Mark Grol.
* INDUSTRIAL property investor Goodman Group will slash up to 175 positions across its global business as it aims to cut overheads by about 20 per cent a year.
The positions make up about 16.5 per cent of its “headcount” and will either be restructured or made redundant, group chief executive Greg Goodman said on Thursday.
* Spain’s unemployment rate, which was already the highest in the eurozone, hit 13.9% in the last quarter of 2008.
During the period, 3.2 million people were out of work, which was nearly 1.3 million more than in the same three months of the previous year.
* More job losses in the consulting sector were announced today with Buro Happold to cut 10% of global staff and 4% job cuts at Faber Maunsell.
* Stirling Council has announced that up to 170 posts could be cut as part of a financial review to save £5m annually and deliver better frontline services to the community.
* A CONCRETE plant will shut with the loss of 55 jobs after efforts to rescue it failed.
Marshalls, in Llay, near Wrexham, will lose 20 workers today with the rest leaving next month company bosses said.
* HOUSTON (Reuters) – Unemployment lines across the United States are growing, but demand for workers in the oil patch remains healthy with exploration and production companies still hiring workers in anticipation of the next leg up in oil and gas prices.
Even so, the sector got a surprise last week when ConocoPhillips (COP.N), the third largest U.S. oil company said it planned to cut 4 percent of its workforce, or about 1,300 jobs in a bid to control costs. But smaller peers like Devon Energy Corp (DVN.N) say so far they have no plans to take similar action.
“We have over 150 jobs to fill,” Chip Minty, spokesman for Oklahoma City-based Devon, said. “We are hiring, but we are watching our budget.”
* In a time when so many businesses are closing their doors, the US Census Office in Fresno is doing something out of the ordinary…opening.
“Our business ultimately is to count everybody in the district for the purpose of the census which is carried out every ten years,” David Hess, Local Census Office Manager, said.
* EL PASO, TX — (Marketwire) — 01/23/09 — TeleTech Holdings, Inc., one of the largest and most geographically diverse global providers of business process outsourcing (BPO) solutions, today announced it will be adding approximately 1,000 customer service positions to its TeleTech@Home workforce in January.
Mike: The layoff news came fast and hard at the end of the day with some big news from Schlumberger, Harley-Davidson and BBVA Compass. Good thing the weekend is here and the job less announcements should be minimal. I’ll update this post throughout the weekend with any job loss announcements, but let’s start the weekend with a little humor and song. The first video is especially entertaining. Don’t you want your TARP?.………..
Hillary Clinton frees the State Department, and Barack Obama moves to close Guantanamo.
Vodpod videos no longer available.